If they had not found the deal or participated at all, you would not owe them anything since it was off-market and they didn't play a role. 

I’m Christian Dozier, a licensed real estate agent with The Nate Evans Group/EXP Realty, proudly serving the Champaign/Urbana area.

I'm not able to meet up as I'll only be there at the end of the month but definitely interested in following progress and participating in discussions.

Curious to hear the system you'd recommend for tracking material participation?    

Austin that is legit amazing, I hope you are very very proud of what you have accomplished because not many people take that much action so way to go!!!

Typically, you’ll need to use an online listing service, where you can either participate in a free trial or pay a fee to view listings.

You anticipate that the winners provide much more profit than the losers, and you end up with a portfolio that produces a double digit return + a “salary” for your active participation over time. 

We purchased a property in early October and are placing it in service this week (mid November).We had intended to run a cost segregation study and try to accelerate depreciation which we can deduct against our W2 (assuming material participation).However, we have been reading through the IRS guidelines (eg publication 946 on Property Depreciation) and there seems to be the concept of "short year" which would mean that we can only deduct ~1.5/12 of a year's worth of depreciation in 2024.Is this correct or are there any different rules for STRs specifically?

Quote from @Justin Buswell: Quote from @Stuart Udis: For anyone seeking an endorsement on Pace's training programs you should understand that simply participating in his programs and acquiring property does not mean they are in fact going to be successful.  

However, if you or your spouse can meet the Real Estate Professional Status (REPS) requirements by working over your w2 hours in real estate and materially participating, the rental losses could offset your active income.